China Bond Daily News 09:50 BJT
Nov 08, 2019 (China Knowledge) - Today, 254 new bonds will be listed for trading, and 18 new bonds will be put up for tender.
PBoC announced that the current liquidity of the banking system is at a relatively high level; no reverse repo will be carried out and no reverse repo will be due today.
The opening price of 1-day inter-bank pledge-style repo (DR001) was 2.55%, and the weighted average price of the previous day was 1.9025%. The opening price of the 7-day inter-bank pledge-style repo (DR007) was 2.65%, and the weighted average price of the previous day was 2.4557%.
Treasury futures opened lower, with the 10-year and 5-year main contracts falling by 0.19%, and 0.09% respectively.
Inter-bank cash coupons opened slightly higher. The yield of the 10-year CBD bond rose 1.5bp to 3.72%.
Currently, fewer small and medium-sized banks are listed, with limited channels for foreign capital. However, issuance of secondary capital bonds, preferred stocks and perpetual bonds will increase in the future, and even capital instruments will be innovated for small and medium banks.
Interbank funds have tightened, while money market interest rates have mostly risen. The 1-day inter-bank pledge-style repo increased by 12.03 bp to 1.9025% and the 7-day inter-bank pledge-style repo increased by 9.18 bp to 2.4557%.
Huishang Bank has been approved in the public issuance of no more than RMB 10 bln of fixed-term capital bonds in the national inter-bank bond market.
China Chengxin International announced the credit rating of Ningbo Bank is maintained at AAA, with a stable rating outlook. The credit rating of 12 bonds issued by Ningbo Bank has been raised from AA+ to AAA.
The coupon rate for Huawei's second issue of its “MTN002” bond was 3.49%, which was 1 bp higher than the first bond issue.
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